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A Price Ceiling That Is Not a Binding Constraint Today

question 26

True/False

A price ceiling that is not a binding constraint today could cause a shortage in the future if demand were to increase and raise the equilibrium price above the fixed price ceiling.


Definitions:

DSM-5

The fifth edition of the Diagnostic and Statistical Manual of Mental Disorders, a comprehensive classification of mental disorders published by the American Psychiatric Association.

Disorder

A disruption to regular bodily structures or functions, often leading to symptoms or disabilities.

Young Child

A child in the early stages of life, typically before entering full-time education.

Attachments

Emotional bonds between individuals, especially seen in early child development as a strong, affectionate connection between children and their caregivers or parents.

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